Iâve been hearing this advice from a lot of people lately: Get out of the dollar. Put your money in pesos, euros, Canadian dollars and other currencies.
This begs the question: Is the dollar a doomed currency?
After the Fed rate cut, investors rallied towards the peso, causing it to gain a surprising half a peso in just one day. Trading at the Philippine Dealing & Exchange Corp. reached an all-time high of P26 billion. Investors were buying both short-term and longer-term tenors. A case of increased bullishness in the peso? Knee-jerk reaction? Or is the peso really becoming a better choice over the dollar?
I canât believe this is proof of investor confidence in the Philippines as a whole when you have the ZTE deal drama going on at the same time. INQUIRER.net hit a million page views in one day because of the ZTE coverage.
Joke time. Whatâs the Filipino version of the American alphabet?
A, B, Z, T, E, F, Gâ¦
Is the dollar a doomed currency?
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this is a way bit far from the issue but the concern is still in dollar to peso.
The Phil Govt should make a move to have a standard or fix exchange rate in times like this. Why should the OFW will always loose ang the govt will gain?Imean those on the position in the govt..
$ doomed? Guess so. US has to cut rates and depreciate $ further just to help out the mortgage crisis victims.
"Joke time. Whatâs the Filipino version of the American alphabet? A, B, Z, T, E, F, G" D-UH!... ã ã° ã ã ? :D
The dollar has been doomed the moment Dubya sat in office. If the neocons aren't replaced this 2008 elections, the dollar will experience a shock much like Argentina's currency did.
Change ur dollars into euros. That's the new dollar today in the market. Peso isn't any better. Expect it to crash the moment US dollar crashes.
It's a concern, but I don't think U.S. Dollar is doomed; unless we keep the war going and spend everything we have, destabilize economy, etc., etc.
Does FG in ABZTEFG mean First Gentleman? ;)
Ano yung AB? Ang Bribe ng ZTE kay FG?? :D
If the US dollar is doomed, think of all those countries who have billions and billions of US$ reserves (think China as one). Are they doomed too?
The issue is not as simple as it seems. But if you have US$ in the bank and can easily convert it to the Euro, then I would think it is not such a bad bet. (You must include the overhead in the computation conversion though.)
lame joke...(peace:-))
The USA has resourses to backup the dollar while other countries don't. Remember the USA isn't a third world country. It has took over 200 years for the USA to get into the best sitituation.
USA is definitely not the most powerful country in the world for nothing, they can easily manipulate everything including bouying up the dollars when the (extreme) need arises. They can even afford to start a war with Iran if they think the long term benefit outweighs the risk. They can do what they all what they wanted to do and still come out a winner. So i bet the $$ is still not doomed, not in this lifetime (yet).
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